An industry-approved, independent performance
assessment of offshore, upstream production facilities.

Key Benefits

The Performance Forum demonstrates the competitiveness of your project costs and schedule against the industry benchmark.

The large sums of money involved in the Capex phase of a project need to be carefully managed. In the current economic climate, there is even less room for error. Project teams need accurate and relevant cost and duration data in order to keep their projects on track. The Performance Forum provides answers to key questions facing the estimators, planners and project managers involved in offshore exploration and production.

Key Questions for Project Assessors:

How the Performance Forum helps:

Are my project Capex estimates competitive with my peers? Could we be doing this project faster? Or are we too optimistic? Where should we fabricate facilities for this project? Are there cost savings to be found? Did our last project meet sanction budget? How did it compare with similar projects in the market? Can we learn from previous experience? How well do we estimate our projects versus the outcome? Where are our strengths and weaknesses?

Benchmark project estimates (pre- or post-sanction) to provide confidence level for risk assessment Measure project outcome performance and benchmark against peer group companies to determine best-practise Undertake pre-project studies such as viability of construction in specific regions Perform gap analysis of estimate versus actual costs/schedule Identify future areas of strength and weakness using project cost/duration metrics Improve internal processes such as calibration of proprietary estimating tools.

By collaborating with industry partners who have prior experience in similar projects, Members of the Performance Forum can seek to maximise Capital Efficiency, with the aim of reducing risk and cost and increasing confidence.

The Performance Forum provides a platform for success.